Re: Explaining pool mining/solo mining to a indifferent significant other
So I have been solo mining instead and I have been honest about how low of odds I have to see any reward and I don't make any profit doing it. Which they are not happy about and don't like the concept of 'lotto mining'.
The odds are the same as someone winning a lottery.
Let me spill some facts so you may know what it's to be a solo miner. Currently, we are at the 844714 mined blocks and you know what it's only happened 282 times. The last incident was on 28th Apr 2024 with hash rate of around 120 petahashes per second (PH/s) which is just 0.02% of total network's hasrate.
So I wouldn't waste my resources while trying to be a solo miner, the best choice for individuals now is buy bitcoin than mining it.